Hanryu Holdings Faces Delisting Concerns
Ticker: GITS · Form: 8-K · Filed: May 24, 2024 · CIK: 1911545
Sentiment: bearish
Topics: delisting, listing-standards
TL;DR
Hanryu Holdings might get delisted, big trouble for the stock.
AI Summary
Hanryu Holdings, Inc. filed an 8-K on May 24, 2024, to report its notice of delisting or failure to satisfy continued listing rules. The company is based in Seoul, Republic of Korea, and its principal executive offices are located at 160, Yeouiseo-ro, Yeongdeungpo-gu, Seoul, 07231.
Why It Matters
This filing indicates potential issues with Hanryu Holdings' ability to remain listed on its exchange, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading on an exchange.
Key Players & Entities
- Hanryu Holdings, Inc. (company) — Registrant
- May 24, 2024 (date) — Date of earliest event reported
- 160, Yeouiseo-ro, Yeongdeungpo-gu, Seoul, Republic of Korea 07231 (address) — Principal executive offices
- +82-2564-8588 (phone_number) — Registrant's telephone number
FAQ
What is the primary reason for Hanryu Holdings, Inc. filing this Form 8-K?
Hanryu Holdings, Inc. is filing this Form 8-K to provide a notice of delisting or failure to satisfy a continued listing rule or standard.
On what date was this Form 8-K filed and what is the earliest event reported?
The Form 8-K was filed on May 24, 2024, and this is also the date of the earliest event reported.
What is the exact name of the registrant as specified in its charter?
The exact name of the registrant is Hanryu Holdings, Inc.
In which jurisdiction was Hanryu Holdings, Inc. incorporated?
Hanryu Holdings, Inc. was incorporated in Delaware.
What is the address of Hanryu Holdings, Inc.'s principal executive offices?
The address of Hanryu Holdings, Inc.'s principal executive offices is 160, Yeouiseo-ro, Yeongdeungpo-gu, Seoul, Republic of Korea 07231.
Filing Stats: 643 words · 3 min read · ~2 pages · Grade level 10.7 · Accepted 2024-05-24 16:20:13
Key Financial Figures
- $0.001 — ch registered Common stock, par value $0.001 per share HRYU NASDAQ (Nasdaq Capit
Filing Documents
- ea0206884-8k_hanryu.htm (8-K) — 25KB
- ea020688401ex99-1_hanryu.htm (EX-99.1) — 8KB
- 0001213900-24-046656.txt ( ) — 207KB
- hryu-20240524.xsd (EX-101.SCH) — 3KB
- hryu-20240524_lab.xml (EX-101.LAB) — 33KB
- hryu-20240524_pre.xml (EX-101.PRE) — 22KB
- ea0206884-8k_hanryu_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On May 21, 2024, Hanryu Holdings, Inc. (the " Company ") received a delinquency compliance alert notice (the " Notice ") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (" Nasdaq ") advising the Company that due to the Company's failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2024 and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2023 with the Securities and Exchange Commission (the " SEC "), the Company is not in compliance with Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all required periodic reports with the SEC. Nasdaq provided the Company until June 17, 2024, to submit a plan to regain compliance with the Rule (the " Plan "). The Company intends to submit its plan of compliance to Nasdaq by June 17, 2024. If Nasdaq accepts the Plan, the Company may be granted an extension of up to 180 calendar days from the due date of the Form 10-K, or until October 14, 2024, to regain compliance with the Rule. In the event the Plan is not accepted by Nasdaq, the Company may appeal that decision to a Hearings Panel. On May 24, 2024, the Company issued a press release announcing the Company's receipt of the Notice. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
01. Financial Statement and Exhibits
Item 9.01. Financial Statement and Exhibits. (d) Exhibits. Exhibit No Document 99.1 Press release dated May 24, 2024. 104 Cover Page Interactive Data File, formatted in Inline XBRL 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HANRYU HOLDING S, Inc. May 24, 2024 By: /s/ Changhyuk Kang Name: Changhyuk Kang Title: CEO 2